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Altair Engineering Inc. (NASDAQ: ALTR – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the six research firms covering the stock, Marketbeat.com reports. One research analyst has a Sell rating on the stock and three have a Buy rating on the company. The average 12-month price objective among analysts covering the stock in the past year is $58.50.
ALTR has been the subject of several research analyst reports. TheStreet cut Altair Engineering to a “d+” rating from a “c-” rating in a report on Monday, September 19. Needham & Company LLC initiated coverage on Altair Engineering in a research note on Wednesday, November 16. He issued a “Buy” rating and $60.00 price objective for the company. Finally, Rosenblatt Securities cut its price objective on Altair Engineering from $70.00 to $63.00 and set a “buy” rating on the company in a research note on Monday, October 24.
Altair Engineering stock performance
The NASDAQ ALTR opened on Monday at $44.97. The stock has a fifty-day simple moving average of $47.06 and a 200-day simple moving average of $50.39. Altair Engineering has a 12 Month Low of $43.17 and a 12 Month High of $78.38. The stock has a market cap of $3.60 billion, a PE ratio of -60.77, a P/E/G ratio of 197.88, and a beta of 1.48. The company’s current ratio is 2.35, quick ratio is 2.35 and debt-to-equity ratio is 0.57.
Altair Engineering (NASDAQ: ALTR – Receive Rating) last announced its earnings results on Thursday, November 3. The software reported EPS ($0.16) for the quarter, beating analysts’ consensus estimates ($0.19) by $0.03. Altair Engineering had a negative return on equity of 0.13% and a negative net margin of 10.30%. The company’s revenue during the quarter was $119.35 million, compared with analysts’ expectations of $118.47 million. Equity analysts expect Altair Engineering to earn Rs 0.02 earnings per share for the current year.
indoor activity
In other news, CEO James Ralph Scapa sold 57,915 shares of the firm’s stock in a transaction on Tuesday, Nov. 15. The stock was sold at an average price of $49.97, for a total transaction of $2,894,012.55. Following the sale, the CEO now owns 103,224 shares of the company’s stock, valued at approximately $5,158,103.28. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. In related news, CRO Nelson Dias sold 4,000 shares of Altair Engineering stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $47.11 for a total value of $188,440.00. Following the sale, the executive now directly owns 30,124 shares in the company, valued at $1,419,141.64. The transaction was disclosed in a document filed with the SEC, which can be accessed via this link. Additionally, CEO James Ralph Scapa sold 57,915 shares of Altair Engineering stock in a transaction that occurred on Tuesday, November 15. Shares were sold at an average price of $49.97, for a total value of $2,894,012.55. Following the completion of the sale, the CEO now holds 103,224 shares in the company, valued at $5,158,103.28. Disclosure of this sale can be found here. In the last quarter, insiders sold 62,278 shares of company stock valued at $3,099,118. 22.65% of the stock is currently held by insiders of the company.
Institutional Business of Altair Engineering
Several institutional investors have recently modified their holdings of ALTR. The Teachers Retirement System of Texas boosted its stake in Altair Engineering shares by 14.7% in the first quarter. Teachers Retirement System of Texas now owns 10,359 shares of Software’s stock valued at $667,000 after buying an additional 1,327 shares in the last quarter. Swiss National Bank raised its stake in Altair Engineering to 17.2% in the first quarter. Swiss National Bank now owns 120,100 shares of Software’s stock valued at $7,734,000 after buying an additional 17,600 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Altair Engineering in the first quarter valued at $41,000. Raymond James & Associates raised its stake in Altair Engineering by 3.8% in the first quarter. Raymond James & Associates now owns 103,075 shares of the software stock valued at $6,638,000 after buying an additional 3,763 shares during the last quarter. Finally, Massachusetts Financial Services Company MA boosted its stake in Altair Engineering to 62.9% in the first quarter. Massachusetts Financial Services Company MA now owns 200,139 shares of SOFTWARE’s stock valued at $12,889,000 after purchasing an additional 77,300 shares during the last quarter. 62.68% of the stock is currently held by hedge funds and other institutional investors.
About Altair Engineering
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Altair Engineering Inc., together with its subsidiaries, provides worldwide software and cloud solutions in the areas of simulation, high-performance computing, data analytics and artificial intelligence. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solver and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platforms and analytics tools, as well as support and complementary software products.
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